Mattersight Announces Second Quarter 2011 Results
(firmenpresse) - CHICAGO, IL -- (Marketwire) -- 08/10/11 -- Mattersight Corporation (NASDAQ: MATR) today announced financial results for the second quarter ended July 2, 2011.
On May 28, 2011, the company divested its Integrated Contact Solutions ("ICS") business unit and "eLoyalty" registered trademark / trade name to a subsidiary of TeleTech Holdings, Inc. As a result of this divestiture, the company has classified the ICS business unit as discontinued operations and the associated results of operations, financial position, and cash flows have been separately recorded as appropriate.
Mattersight's net income was $27.0 million in the second quarter of 2011, including a pre-tax gain on the sale of the ICS business unit of $36.4 million. Total Services revenue was $13.9 million, including $7.3 million from the ICS business unit. Total revenue was $15.3 million, including $8.6 million from the ICS business unit.
Mattersight's operating loss from continuing operations was $4.3 million. Mattersight realized an "Adjusted Earnings¹" loss of $2.3 million for the second quarter of 2011. Adjusted Earnings is a non-GAAP measure. For a reconciliation of Adjusted Earnings to operating loss, see the accompanying schedule. Total services revenue was $6.6 million, including $4.9 million of Subscription revenues.
Mattersight's second quarter highlights include:
Signed $26.7 million of Managed Services contracts
Grew backlogto a record of $100.0 million
Increased backlog 69% year over year
Closed significant production deployment of predictive analytics
Signed a sales pilot at an existing account
Expanded sales team from 13 to 18
Hired a new Chief Strategy Officer and marketing director focused on advancing Mattersight's vision and mission to deliver innovative and market leading cloud-powered enterprise analytics across a broad range of industries
The company currently expects its Q3 subscription revenues will increase approximately 8% to 10% sequentially and its total services revenues will increase approximately 5% to 7% sequentially.
Mattersight management will host a conference call at 5:00 p.m. ET on Wednesday, August 10, 2011. The conference call and slide presentation will be available at the Investment Community section of Mattersight's website at . To listen to the conference call via telephone, please call 800.952.4789 (domestic) or 404.665.9579 (international), conference ID: 85625784.
For those who cannot access the live broadcast, a replay of the conference call will be available beginning approximately two hours after the live call is completed until August 24, 2011, by dialing 855.859.2056 (domestic) or 404.537.3406 (international), conference ID: 85625784.
Mattersight is a leader in enterprise analytics and the only company focused on providing Behavioral Analytics as a managed service. Mattersight's proprietary technology, delivered through a SaaS model, captures the unstructured data of conversations, related customer and employee data, and employee desktop activity, and automatically analyzes it "in the cloud" to provide operational transparency into every single customer interaction and foresight into future customer behavior. Mattersight's Behavioral Analytics platform is easily adapted to multiple verticals, programs, and industry-specific processes. Mattersight's analytics enable its impressive list of customers to drive measurable economic benefit through the improvement of contact center performance, customer satisfaction and retention, fraud reduction, and streamlined back office operations. For additional information on Mattersight, visit .
Statements in this press release that are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements, which may be identified by use of words such as "plan," "may," "might," "believe," "expect," "intend," "could," "would," "should," and other words and terms of similar meaning, involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. In addition to other factors and matters contained or incorporated in this document, important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements include, among other things, the risks detailed from time to time in Mattersight's SEC filings. You can locate these filings on the Investor Relations page of Mattersight's website, . Statements included or incorporated by reference into this press release are based upon information known to Mattersight as of the date of this press release, and the company assumes no obligation to publicly revise or update any forward-looking statement for any reason.
1. Mattersight presents Adjusted Earnings, a non-GAAP measure that represents cash earnings performance, excluding the impact of non-cash expenses and expense reduction activities, because management believes that Adjusted Earnings provide investors with a better understanding of the results of Mattersight's operations. Management believes that Adjusted Earnings reflect Mattersight's resources available to invest in its business and strengthen its balance sheet. In addition, expense reduction activities can vary significantly between periods on the basis of factors that management does not believe reflect current-period operating performance. Although similar adjustments for expense reduction activities may be recorded in future periods, the size and frequency of these adjustments cannot be predicted. The Adjusted Earnings measure should be considered in addition to, not as a substitute for or superior to, operating income, cash flows or other measures of financial performance prepared in accordance with GAAP.
2. Mattersight uses the term "backlog" to reflect the estimated future amount of Managed services revenue related to its Managed services contracts. The value of these contracts is based on anticipated usage volumes over the anticipated term of the agreement. The anticipated term of the agreement is based on the contractually agreed fixed term of the contract, plus agreed upon, but optional, extension periods. Anticipated volumes may be greater or less than anticipated. In addition, these contracts typically are cancellable without cause based on the customer making a substantial early termination payment or forfeiture of prepaid contract amounts. The reported backlog is expected to be recognized as follows: $14.5m in 2011; $32.1m in 2012; $25.1m in 2013; $28.3m in 2014 and thereafter.
Stock-based compensation, primarily restricted stock, is included in individual line items above:
Contact
Tyson Marian
Vice President of Marketing and Chief Strategy Officer
312.454.3527
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Datum: 10.08.2011 - 14:15 Uhr
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